Jefferies 'fundamentally positive' on Aussie Broadband, raises PT

Aussie Broadband

25/02/2024 20:24

** Jefferies raises its price target for Australian telecom
firm Aussie Broadband  ABB.AX , says it has a fundamentally
positive view of co seeing a long runway of growth 
    ** Raises price target to A$4.30 from A$4.00, retains "hold"
rating 
    ** Lifts group subscribers growth forecast by 6% for FY24
and by 5% for FY25 and FY26 
    ** Adjusts its FY24 EBITDA margin forecast by -3% for FY24
and +7% and +5% for FY25 and FY26, respectively 
    ** Three of six analysts rate the stock "buy", two "hold"
and one "sell"; their median PT is A$4.25 – LSEG data
    ** ABB stock up 16.2% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))